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American Express has temporarily suspended new applications for the AMEX HighFlyer Card, which was launched in partnership with Singapore Airlines in 2019. This pause may indicate a potential refresh of the card, as it has seen both improvements and reductions in benefits over the years. The future of the card remains uncertain, but there is hope for enhancements that could revitalize its appeal.
Gold prices have reached an all-time high, surpassing $3,000 per ounce, achieving a target set by UBS Global Wealth Management. Wayne Gordon, managing director at UBS CIO in Singapore, discusses the potential for further price increases in the market.
UBS faces potential takeover threats amid regulatory tightening in Switzerland, with management warning that stricter capital requirements could lead to a significant drop in stock value. While the bank emphasizes its commitment to Swiss operations, discussions of a foreign acquisition, particularly by US firms, are intensifying as UBS's wealth management division remains highly attractive. The Swiss government is expected to clarify its regulatory stance by May, adding to the uncertainty surrounding UBS's future.
Grab's acquisition of Cambodian firm Nham24 highlights the potential of Cambodia's tech market, which has been largely overlooked in Southeast Asia's digital economy. This move signals Grab's intent to dominate a nascent market with low saturation, suggesting significant growth opportunities ahead. As the region evolves, Cambodia may emerge as a key player rather than an afterthought.
UBS is contemplating relocating its headquarters due to proposed capital demands of 25 billion francs, which could significantly impact its profitability and competitive edge. CEO Sergio Ermotti warns that increased requirements may lead to operational costs of up to $3 billion annually, risking customer trust and employment in Switzerland. As discussions continue, the Finance Minister emphasizes the need for a collaborative resolution to maintain UBS's presence and stability in the Swiss financial landscape.
Goldman Sachs has adjusted its price target on Jabil Inc. to $175 from $179 while maintaining a Buy rating. Jabil specializes in electronic outsourcing services, with net sales primarily derived from engineering solutions (52.2%) and electronic systems production (47.8%), serving various industries including consumer electronics and automotive. Geographically, sales are distributed across the United States (17.5%), Singapore (15.5%), Mexico (20.3%), China (16.7%), and other regions (30%).
Venturi Partners has launched its second fund, targeting $225 million, to support disruptive consumer brands in Southeast Asia and India. The fund will focus on high-growth sectors like retail, education, healthcare, and FMCG, aiming for a first close by Q2 CY2025. With a hands-on investment approach, Venturi continues to partner with ambitious entrepreneurs to drive innovation and growth in the region.
Two overseas investors, Augusta TBO Singapore Pte Ltd and TBO Korea Holdings Ltd, plan to sell a combined 3.1% stake in B2B travel tech firm TBO Tek, aiming to raise approximately 400 crore rupees (US$46.3 million) through block deals. The shares will be offered at a floor price of 1,180 rupees (US$13.68), reflecting a 7% discount to the last closing price, with a 30-day lock-in period for the remaining shares. TBO Tek, which provides travel services and went public in May 2024, has seen a year-to-date decline of over 27% despite a revenue increase of 29.2% last quarter.
HSBC Holdings plc plans to issue SGD800 million in perpetual subordinated contingent convertible securities on March 24, 2025, with a 5.000% initial interest rate. The securities, aimed at independent third-party investors, will be listed on Euronext Dublin and are subject to various conditions, including a capital adequacy trigger that could convert them into ordinary shares. Proceeds will support the company's capital base in line with UK regulatory requirements.
Sean Tay, the former head of UOB Private Bank’s Malaysia market, is set to join BNP Paribas Wealth Management, focusing on the Southeast Asian market. Sources indicate that the move is imminent, although the bank has not commented on the hiring.
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amex highflyer card applications temporarily suspended amid potential refresh
03:10 24.03.2025
gold prices reach new heights surpassing three thousand dollars per ounce
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01:04 24.03.2025
UBS faces potential takeover amid regulatory pressures and market uncertainties
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10:33 23.03.2025
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10:30 23.03.2025
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venturi partners launches 225 million fund for disruptive consumer brands in asia
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investors plan to sell 3.1 percent stake in travel tech firm TBO Tek
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